News / Equipment lessors suffer along with shipping lines as the weak market pushes box prices down

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The price of new containers continues to tumble, reducing daily hire rates and bringing impairments for lessors.

In the first quarter of this year, the cost of a new 20ft dry freight container fell to its lowest level since 2002 – averaging $1,350, down from around $1,850 a year ago – due to weak demand.

And prices are still falling, according to the latest edition of Container Equipment Insight, published by shipping consultancy Drewry.

“New box output has slumped markedly this year, with leasing companies again showing a ...